FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please explain how this was factored to get 0.005247 Number 8 An engineer buys his first house. The interest rate is 4.8% per year for

Please explain how this was factored to get 0.005247

image text in transcribed

Number 8 An engineer buys his first house. The interest rate is 4.8% per year for 30 years. What is his monthly payment for a $250,000 morgtage. Divide 4.8 % by 12 to get monthly rate .4% A= 250,000(AP,4%,360) Will need to calculate factor Factor-.005247 250,000( .005247) = 13 1 1 .75

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Enterprise Risk Management In Finance

Enterprise Risk Management In Finance

Authors: David L. Olson, Desheng Dash Wu

1st Edition

1349691038, 978-1349691036

More Books

Students also viewed these Finance questions

Question

★★★★★
On January 1, 2015, Seton Corporation sold a $ 10,000,000, 5.5 percent bond issue. The bonds were dated January 1, 2015, had a yield of 6 percent, pay interest each December 31, and mature 10 years...

Answered: 1 week ago

Question

★★★★★
Hearing feelings is communicating at which level of communication? a. Level I b. Level II c. Level III d. Level IV

Answered: 1 week ago

Question

★★★★★
3. If the caller visited a practitioner of psychodynamic therapy, how would his or her treatment diff er from another caller who visited a practitioner of person-centered therapy? We have examined...

Answered: 1 week ago

Question

★★★★★
In 2010, Grand Falls Bank (GFB) had $4,000,000 in business loans at an average interest rate of 3.5 percent as well as $3,200,000 in consumer loans with an average rate of 8 percent. GFB also has...

Answered: 1 week ago

Question

★★★★★
( 1 2 points ) Consider a 1 0 - bit data, to be protected by using a Hamming single error correcting code with an additional parity bit, 1 1 , so that double errors can be detected. ( a ) ( 2 points...

Answered: 1 week ago

Question

★★★★★
Which of the following best describes what happens when you move along the demand curve? Question 12 options: Demand changes as there is a population increase.. Quantity demanded changes as price...

Answered: 1 week ago

Question

★★★★★
A coal-powered power plant requires a heat transfer of 2.5 x 1014 J into the plant is per full day of operation, with an efficiency of 36%. If the turbines in the power plant were upgraded to improve...

Answered: 1 week ago

Question

★★★★★
A train approaches a station at a constant speed, sounding its whistle continuously. Three students are discussing what an observer standing at a station would hear as the train is approaching:...

Answered: 1 week ago

Question

★★★★★
Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2022 2021 Net...

Answered: 1 week ago

Question

★★★★★
Refer to Figure 6-9. What is the price buyers will pay after the tax is imposed? Refer to Figure 6-9. What is the amount of the tax per unit imposed in this market?

Answered: 1 week ago

Question

★★★★★
Fullan (2014) mentions a variety of components that are needed for change to occur. What 3 leadership strategies do you feel are foremost in working through the change process and why? Support in the...

Answered: 1 week ago

Question

★★★★★
How clear are you about a topic for your project? Who do you need to discuss your ideas with to decide about the feasibility of the project? (Chapter

Answered: 1 week ago

Question

★★★★★
What resources or expertise and advice are available to you from your project supervisor? How can you make best use of these resources?

Answered: 1 week ago

Question

★★★★★
What skills and competences have you already developed that you can utilise in the process of undertaking your project?

Answered: 1 week ago

Previous Question Next Question